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“At ¥42 Japan’s FIT is by far the most attractive globally—overly generous perhaps, which could lead to overheating of the market,” explained Ash Sharma, senior director of solar research at IHS.

The total cost of the solar PV power plant is valued over Rs: 50 Lakhs with an additional Rs: 10 lakhs needed to replace the old wiring and main switch boards, including replacement of old bulbs and fans with energy efficient units.

In addition, Suntech is in discussions with certain of its suppliers and lenders relating to various other claims for non-payment or non-performance, which the Company hopes to resolve in a timely manner.

It is highly laudable that the Ministry of New and Renewable Energy provides an upfront of 30% capital subsidy on every solar PV plant installation which is a good catalyst towards building Natural energy points to a sustainable future. “We hope this will also pave way for many more such projects in the state,” Venkat added.

Florida’s first such system is widely considered to be one established several years ago by Florida Keys Electric Cooperative. Scott Newberry, that utility’s chief executive officer, said customer participation was disappointing because solar power at the time was much more expensive than it is now.